Trillium Asset Management LLC, on behalf of the Benedictine Sisters of Mount St. Scholastica, along with the AFSCME Employees Pension Plan recently filed a shareholder proposal with Citigroup Inc. (NYSE: C) asking the company’s board of directors to explore a possible separation of one or more of its business units.
“Despite some positive steps taken since the start of the financial crisis, we believe Citigroup’s progress toward simplifying and de-risking its business has been slow and incomplete. Citigroup boasts many attractive attributes, but remains burdened by excessive complexity, as well as the stigma and risks associated with being named a ‘too big to fail’ institution.”, said Matthew Patsky, CEO of Trillium Asset Management in his original statement. “These factors could threaten stockholder return through breakdowns in risk management, increased regulatory scrutiny, higher litigation expense, greater capital requirements and poor public perception, among other challenges”.
On Friday, December 14th, Matt and Sister Rose Marie Stalbaumer, who is the Treasurer for The Benedictine Sisters of Mount St. Scholastica, appeared on Fox Business News’ Countdown to the Closing Bell, with Liz Claman.
You can watch the segment here.